Crown Castle Inc. (NYSE:CCI) Receives $100.13 Average Target Price from Brokerages

by · The Markets Daily

Shares of Crown Castle Inc. (NYSE:CCIGet Free Report) have earned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $100.1333.

A number of equities analysts have commented on CCI shares. The Goldman Sachs Group cut their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Weiss Ratings upgraded Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. HSBC cut their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Finally, Scotiabank reduced their price target on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Thursday, February 5th.

View Our Latest Research Report on Crown Castle

Crown Castle Trading Up 0.4%

NYSE CCI opened at $87.84 on Friday. The stock has a market cap of $38.30 billion, a P/E ratio of 86.97, a PEG ratio of 0.44 and a beta of 0.96. The company’s fifty day simple moving average is $87.23 and its 200-day simple moving average is $90.65. Crown Castle has a 52 week low of $77.01 and a 52 week high of $115.76.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s dividend payout ratio is presently 420.79%.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the completion of the sale, the vice president owned 5,800 shares of the company’s stock, valued at approximately $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the sale, the executive vice president owned 25,183 shares of the company’s stock, valued at approximately $2,174,300.22. This trade represents a 15.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CCI. Norges Bank acquired a new stake in shares of Crown Castle in the 4th quarter valued at about $594,670,000. Lazard Asset Management LLC increased its holdings in Crown Castle by 124.2% in the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock valued at $1,034,013,000 after buying an additional 6,445,237 shares during the last quarter. Cohen & Steers Inc. increased its holdings in Crown Castle by 11.0% in the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after buying an additional 3,953,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Crown Castle by 591.8% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock valued at $431,418,000 after buying an additional 3,824,778 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Crown Castle by 422.5% during the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock valued at $318,258,000 after buying an additional 2,895,756 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Company Profile

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Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

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